Income Tax Calculator

Income tax return must be filed by all individuals who have a total income of more than Rs.2.5 lakhs per annum. Use the income tax calculator below to calculate income tax payable and the income tax rate applicable for you.

Income Tax Calculator

Financial Year *

Category *

Total Gross Income

Income from salary

Basic Salary

Dearness Allowance

House Rent Allowance

Medical Allowance

Transport Allowance

Leave Travel Allowance

Bonus

Value of Perquisites

Profits in lieu of salary

Income from let-out house property(Rental Income)

Income from Interest

Income from other sources

DEDUCTION FROM GROSS TOTAL INCOME (INR)

Do you live in a rental accommodation?

Do you live in a Metro city?

Do you have any Medical Expenses to claim Tax Exemption?

Total Income

Income from salary:

Income from rental property:

Income from Interest:

Income from other sources:

Transport allowance exemption:

Medical allowance exemption:

Transport and Medical Allowance Exemption:

HRA exemption:

Deductions:

Net Taxable income:

Income Tax to be paid (INR):

Select the Financial Year for which you want to calculate the Income Tax Payable. Income Tax Payable would be different for every year, depending on the revisions from Government on Tax Slab, deduction limit, Cess % etc in every year’s Budget.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please select the category under which you want to calculate the Income Tax.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the basic salary. Basic salary is the base income of an individual. It is the amount paid to employees before any increases due to bonus, allowances, perquisites or overtime. If you do not have any other component like allowances, bonus, perquisites etc in your salary enter your complete income from salary in the basic salary.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the Dearness Allowance if this component is there in your salary. Dearness Allowance is generally a fixed percentage of the basic salary, aimed at hedging the impact of inflation. This may be different for different employees based on their location.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the House Rent Allowance if this component is there in your salary. House Rent Allowance or HRA is a part of the salary provided by an employer to his employee for his rented accommodation. Please note that even if you have a HRA component in your salary, HRA exemption can be claimed only if you are residing in a rented house.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the Medical Allowance if this component is there in your salary. Medical Allowance is a fixed allowance that an employer pays to its employees as a part of their salary to meet their regular medical needs.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the Transport Allowance if this component is there in your salary. Conveyance allowance, also called Transport Allowance is a type of allowance offered to employees of a company to compensate for their travel from residence to and from respective workplace location.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the Leave Travel Allowance if this component is there in your salary. Leave Travel Allowance is a fixed allowance paid by an employer for Employee's travel within the country, when he is on leave with the family or alone.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the Bonus if this component is there in your salary. Bonus also known as incentive, is usually made to employees in addition to their basic salary. While the basic salary usually is a fixed amount per month, bonus more often than not vary depending on known criteria, such as the annual turnover, performance of the employee, the current value of the stock of a public company etc..

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the value of perquisites if applicable. Perquisites are fringe benefits received by employees as a result of his/her official position and are over and above the salary. Some examples of Perquisites are rent-free or subsidized accommodation, supply of utilities, free meals etc.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the profits in lieu of salary if applicable. Profits in lieu of salary are payments received by an employee in lieu of or in addition to salary or wages. Some examples of Profits in lieu of salary are compensation received by an employee from his employer or former employer in connection with the termination of employment or modification of terms and conditions of employment, Any payment received by an employee, under a keyman insurance policy, Payment due or received by an employee from an unrecognised provident fund or unrecognised superannuation fund which is not the employee’s contribution, new employment joining incentive etc.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter the interest amount that you have earned from the money in your savings bank account.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

If you have let-out a house property, please enter the rental income, after reducing the municipal tax and any unrealised rent.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please enter income from sources that have not been factored so far. Examples of income from other sources are income from family pension, fixed deposit, recurring deposit, deposit with post office etc

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please click on the ‘Add Amount’ Button and enter the amount paid towards each deduction section for an accurate calculation of Income Tax Payable amount. Alternately, you can also enter the deduction amount directly for quicker calculation.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please provide details on whether you are living in a rental accommodation or not. Tax exemption is available if you live in a rental accommodation. Please note that depending on whether you live in a metro city or a non-metro city, the exemption amount varies. So please provide details on whether you are living in a rental accommodation or not.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Please mention the amount that you have spent towards medical expenses. Until FY 2017-2018, medical exemption was provisioned for a limit of ₹ 15,000 upon submission of bills. After FY 2018-2019, Transport allowance and Medical allowance exemption are together considered for a maximum of ₹ 40,000.

Tax Components

Amount

Total Income

Total allowance exemption

Deductions

Taxable income

Income Tax to be paid (INR)

Assessment Year vs Financial year

Financial year starts from 1st April and ends on 31st March. For example, the financial year 2018 – 19 would be 1st April 2018 to 31st March 2019. Assessment year is the year immediately following the financial year wherein the income of the financial year is assessed. Hence, in the assessment year 2019 – 20 the income tax for the period from 1st April 2018 to 31st March 2019 would be assessed.